Property Valuation

An appraisal that values a property under the assumption that it will continue its current use rather than be converted to its highest and best use is known as a:

AMarket value appraisal
BValue in use appraisal✓ Correct
CInvestment value appraisal
DLiquidation value appraisal

Explanation

Value in use is the value of a property assuming a specific use — typically the current use — regardless of whether that is the highest and best use. It may differ from market value when the current use is not the highest and best use.

Related Tennessee Property Valuation Questions

Practice More Tennessee Real Estate Questions

1,500+ questions covering all exam topics. Start free — no signup required.

Take the Free Tennessee Quiz →